BlackRock’s Bitcoin Holdings and ETF Surge 🚀
As of March 11, 2024, BlackRock’s iShares Bitcoin Trust (IBIT) has seen a significant increase in Bitcoin holdings, exceeding 200,000 Bitcoins with a value of about $14.76 billion. This surge of 116% was driven by a sudden influx of institutional investments in the spot Bitcoin ETFs market. Here are some key points to note about BlackRock’s Bitcoin ownership and ETF bloom:
BlackRock’s Bitcoin Ownership Stats 📈
- BlackRock’s IBIT now holds over 203,754.8 Bitcoins, valued at $14.76 billion.
- The Net Asset Value (NAV) of the iShares Bitcoin Trust is $41.27 as of March 11, 2024.
- The ETF saw a 4.55% appreciation in NAV on the same day.
- BlackRock revealed a Sponsor Fee of 0.25% for IBIT, with a fee waiver for the first 12 months reducing it to 0.12% for the first $5.0 billion of the Trust’s assets.
Phenomenal Inflow through Spot Bitcoin ETFs 🌟
- US Spot Bitcoin ETFs witnessed a massive influx of institutional investments totaling $505.6 million recently.
- BlackRock’s IBIT and Fidelity’s Bitcoin Trust (FBTC) received staggering inflows of $775 million combined.
- On February 20, IBIT saw a record $562.9 million inflow, while FBTC received $215.5 million.
- Despite the positive trend, Grayscale’s Bitcoin Trust (GBTC) experienced significant outflows.
- The uptick in ETF inflows coincides with Bitcoin hitting a new all-time high above $72,000.
In Conclusion 🌐
The increasing institutional investment in Bitcoin ETFs is reshaping the cryptocurrency market landscape. BlackRock’s substantial Bitcoin holdings and the record-breaking inflows into US Spot Bitcoin ETFs highlight the market’s maturity and resilience. The positive developments in the Bitcoin ETF space and the upcoming halving event are driving the current bullish momentum in the market, with Bitcoin’s price reaching $72,155.372 amid a trading volume of $55.95 billion in the last 24 hours.
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